Commerzbank (CRZBY) Stake Lowered by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lessened its position in Commerzbank (OTCMKTS:CRZBY) by 0.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,878,953 shares of the financial services provider’s stock after selling 8,533 shares during the period. Thornburg Investment Management Inc.’s holdings in Commerzbank were worth $37,470,000 at the end of the most recent reporting period.

Shares of Commerzbank opened at $12.85 on Friday, according to MarketBeat. The stock has a market capitalization of $16.08 billion, a PE ratio of 53.50 and a beta of 1.27. Commerzbank has a 52-week low of $10.27 and a 52-week high of $17.05.

Several analysts have recently commented on the stock. UBS cut shares of Commerzbank from a “neutral” rating to a “sell” rating in a research note on Monday, January 29th. Macquarie assumed coverage on shares of Commerzbank in a research note on Wednesday, January 24th. They issued an “underperform” rating for the company. Finally, Credit Suisse Group assumed coverage on shares of Commerzbank in a research note on Monday, April 16th. They issued an “underperform” rating for the company.

Commerzbank Company Profile

Commerzbank Aktiengesellschaft provides banking and capital market services to private and small business customers, corporate clients, multinationals, financial service providers, and institutional clients worldwide. It operates through Private and Small-Business Customers; Corporate Clients; and Asset & Capital Recovery segments.

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